In forecasting the sales for the year, which is not included in making assumptions?

Q: a. Journalize and post the July transactions. Use page J1 for the journal and the three-column form…

A: Business events are the business transactions which affect the activities, assets, liabilities of…

Q: Financial analysis does not include assessing future performance and risk because financial…

A: Introduction: Financial statements are a set of summaries of an organization's financial results,…

Q: a) Compare the periodic versus the perpetual system as a control device. b) What sort of…

A: The periodic and perpetual inventory Systems are two systems used to track the quantity of goods…

Q: Which of the following is not a disadvantage of using the FIFO cost flow assumption? includes all…

A: Lets understand the basics.There are various methods follow to calculate inventory balance. It…

Q: Which of the following statements regarding economic capital and economic income is incorrect? (i)…

A: e (v) Explanation: e (v) is the incorrect statementEconomic income is the way for companies to…

Q: Which of the following assumptions is assumed in the percent of sales forecasting method?     All…

A: The percentage of sales forecasting method is a financial forecasting technique that uses historical…

Q: excess earnings method, capitalized earnings approach, and discounted future earnings approach which…

A: ADJUSTED NET ASSETS METHODThe difference between the fair market value of the business assets and…

Q: What types of liabilities, assets, and equity are not assumed to vary directly with sales

A: Solution:- The following types of assets, liabilities, and equity are assumed to vary directly with…

Q: Which of these is a limitation of financial ratio analysis? Select one: a.Suitable yardsticks for…

A: financial ratio analysis, analysis of the various performance of the companies are done using the…

Q: en preparing a projected income statement, which of the following additional information, other than…

A: When preparing projected income statement there are many factors need to considered and overall…

Q: If accrued liabilities are overestimated in the current period, the reported income in a following…

A: Accrued liabilities represent expenses that a company has incurred but has not yet paid as of the…

Q: What impact may the low accuracy of accounting estimates have on the annual statements?

A: Accounting estimates means estimation of the accounting transactions based on different factors like…

Q: predict

A: Financial planning is always a challenging task for nay company & the things become even more…

Q: Which of the following is not included in the definition of earnings persistence?

A: The magnitude of the earnings is not included in the definition of earnings persistence. Earnings…

Q: the lower cost or market is a method of inventory valuation true or false?

A: Inventory valuation is the accounting process in which the monetary value assigned to the unsold…

Q: Which one of the following is an advantage of LIFO? a. In periods of rising prices, less income…

A: >> LIFO Method means Last in first out i.e latest purchase is sold first. >> In rising…

Q: What are some of the problems is using AFN equation to estimate AFN rather than the pro-forma…

A: AFN (Additional funds needed)=Projected increase in assets-spontaneous increase in liabilities-any…

Q: following is accounted for prospectively? Change in reporting entity. Change in…

A: A change in an estimate is accounted for prospectively.

Q: Using common-size balance sheet percentages to project individual assets, liabilities, or…

A: In a common size balance sheet we show all different line items as a percentage of total assets.…